What Account Types and Fees Does Sway Markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Access to a variety of trading instruments |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage and lower spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services for businesses |
Requires corporate documentation |
| Islamic Account |
Traders seeking swap-free options |
Compliant with Sharia law |
Available upon request |
| Demo Account |
All traders |
Practice trading without risk |
Useful for testing strategies |
Account Opening Process
To open an account with Sway Markets, potential traders must complete several steps. First, they need to submit personal information, including their name, contact details, and date of birth. Following this, employment and financial information must be provided to help assess the applicant’s trading experience and financial background. Identity verification is also a critical step, requiring submission of a valid ID and proof of address. Once these documents are verified, traders can begin using their accounts. Additionally, there is flexibility in account management, allowing users to upgrade to a professional account later if they meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
From 0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| Forex (Minor Pairs) |
From 1.2 |
$0 (No Commission) |
Competitive spreads available |
| CFDs (Stocks, Indices, Commodities) |
Varies |
$7.50 |
Fees depend on the specific product |
| Cryptocurrencies |
Varies |
0.1% |
Variable based on market conditions |
Other Fees
In addition to trading fees, Sway Markets may impose various other costs on its clients. These include deposit and withdrawal fees associated with cryptocurrency transactions, potential inactivity fees if accounts are dormant for extended periods, and platform usage fees if applicable. Traders should also be aware of overnight interest (swap rates) on positions held overnight, as well as currency conversion fees that may apply when trading different currencies.
